The loan rate by default is now 7.9%, slightly up from 7.7%, but still a leading rate:

http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1467

With effect from Wednesday 7 October 2009, Nationwide will be introducing a new personal loan rate of 7.9% APR typical for loans of between £7,500 and £14,999* for its current account customers.

Over the past two months, Nationwide has been offering a special market leading low rate loans rate exclusively for its current account bank account customers. When the special offer period ends on Wednesday 7 October 2009, Nationwide will continue to reward its current account customers by offering a rate of 7.9% APR typical.

From the press release: http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1438

With effect from Thursday 6 August 2009, Nationwide will be reducing its personal loans rate to offer a market leading rate of 7.7% typical APR for loans of between £5,000 and £14,999* for its current account customers.

With this typical rate, Nationwide becomes the lender with the lowest personal loan rate in the UK, beating the supermarkets and all the high street banks** – the same low rate applies whether the loan is taken out through branch, telephone or internet.

A couple of limits, though:

• * For loans of £5,000 to £14,999 for up to five years for FlexAccount customers – they must have a monthly credit turnover of at least £750 (excludes internal transfers) for the last three consecutive months. Offer applies to new Nationwide Personal Loan customers only.
• The rate offered will depend on the amount borrowed and the customer’s individual circumstances. Other loan amounts are available.